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The RBA is expected to hold rates tomorrow following a month of subdued retail sales and slowed credit growth.
Figures to be released on Wednesday are expected to show only a 0.1 per cent growth for the retail sector whilst building approvals for May are expected to show a drop of 3 per cent.
Increased fuel costs however are expected to drive figures up in the June quarter’s consumer price inflation index – with an August rate rise now likely.
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Published 30-06-08
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